{"id":34256,"date":"2023-12-18T05:53:32","date_gmt":"2023-12-18T09:53:32","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=34256"},"modified":"2023-12-18T05:53:32","modified_gmt":"2023-12-18T09:53:32","slug":"dot-price-polkadot-holds-strong-at-6-6-signs-point-to-fresh-rally-ahead","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/18\/dot-price-polkadot-holds-strong-at-6-6-signs-point-to-fresh-rally-ahead\/","title":{"rendered":"DOT Price (Polkadot) Holds Strong At $6.6, Signs Point To Fresh Rally Ahead"},"content":{"rendered":"

Polkadot (DOT) is correcting gains from the $7.75 against the US Dollar. The price could start a fresh increase unless there is a close below $6.30.<\/em><\/p>\n

DOT is consolidating gains above the $6.60 support zone against the US Dollar.
\nThe price is trading above the $6.65 zone and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $6.65 on the 4-hour chart of the DOT\/USD pair (data source from Kraken).
\nThe pair could start a fresh increase if the bulls protect the $6.65 and $6.30 support levels.<\/p>\n

Polkadot Price Holds Ground<\/h2>\n

After forming a base above the $5.50 support, DOT price started a decent increase. The price was able to clear the $5.85 and $6.00 resistance levels to move into a positive zone, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

Polkadot even surpassed the $6.65 resistance zone and settled above the 100 simple moving average (4 hours). Finally, the bears appeared near the $7.75 zone. A high was formed near $7.77 and the price is now correcting gains. There was a drop below the $7.20 and $7.00 levels.<\/p>\n

DOT declined below the 61.8% Fib retracement level of the upward move from the $6.31 swing low to the $7.77 high. However, it is still above the $6.65 zone and the 100 simple moving average (4 hours).<\/p>\n

There is also a key bullish trend line forming with support near $6.65 on the 4-hour chart of the DOT\/USD pair. The trend line is close to the 76.4% Fib retracement level of the upward move from the $6.31 swing low to the $7.77 high.<\/p>\n

<\/a><\/p>\n

Source: DOTUSD on TradingView.com<\/a><\/p>\n

Immediate resistance is near the $7.05 level. The next major resistance is near $7.20. A successful break above $7.20 could start another strong rally. In the stated case, the price could easily rally toward $7.75 in the near term. The next major resistance is seen near the $8.00 zone.<\/p>\n

More Losses in DOT?<\/h2>\n

If DOT price fails to start a fresh increase above $7.05, it could continue to move down. The first key support is near the $6.65 level and the trend line.<\/p>\n

The next major support is near the $6.30 level, below which the price might decline to $5.70. Any more losses may perhaps open the doors for a move toward the $5.00 support zone.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for DOT\/USD is now gaining momentum in the bearish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for DOT\/USD is now below the 50 level.<\/p>\n

Major Support Levels \u2013 $6.65, $6.30 and $5.70.<\/p>\n

Major Resistance Levels \u2013 $7.05, $7.20, and $7.75.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Polkadot (DOT) is correcting gains from the $7.75 against the US Dollar. The price could start a fresh increase unless there is a close below $6.30.<\/em><\/p>\n

DOT is consolidating gains above the $6.60 support zone against the US Dollar.
\nThe price is trading above the $6.65 zone and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $6.65 on the 4-hour chart of the DOT\/USD pair (data source from Kraken).
\nThe pair could start a fresh increase if the bulls protect the $6.65 and $6.30 support levels.<\/p>\n

Polkadot Price Holds Ground<\/h2>\n

After forming a base above the $5.50 support, DOT price started a decent increase. The price was able to clear the $5.85 and $6.00 resistance levels to move into a positive zone, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

Polkadot even surpassed the $6.65 resistance zone and settled above the 100 simple moving average (4 hours). Finally, the bears appeared near the $7.75 zone. A high was formed near $7.77 and the price is now correcting gains. There was a drop below the $7.20 and $7.00 levels.<\/p>\n

DOT declined below the 61.8% Fib retracement level of the upward move from the $6.31 swing low to the $7.77 high. However, it is still above the $6.65 zone and the 100 simple moving average (4 hours).<\/p>\n

There is also a key bullish trend line forming with support near $6.65 on the 4-hour chart of the DOT\/USD pair. The trend line is close to the 76.4% Fib retracement level of the upward move from the $6.31 swing low to the $7.77 high.<\/p>\n

<\/a><\/p>\n

Source: DOTUSD on TradingView.com<\/a><\/p>\n

Immediate resistance is near the $7.05 level. The next major resistance is near $7.20. A successful break above $7.20 could start another strong rally. In the stated case, the price could easily rally toward $7.75 in the near term. The next major resistance is seen near the $8.00 zone.<\/p>\n

More Losses in DOT?<\/h2>\n

If DOT price fails to start a fresh increase above $7.05, it could continue to move down. The first key support is near the $6.65 level and the trend line.<\/p>\n

The next major support is near the $6.30 level, below which the price might decline to $5.70. Any more losses may perhaps open the doors for a move toward the $5.00 support zone.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for DOT\/USD is now gaining momentum in the bearish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for DOT\/USD is now below the 50 level.<\/p>\n

Major Support Levels \u2013 $6.65, $6.30 and $5.70.<\/p>\n

Major Resistance Levels \u2013 $7.05, $7.20, and $7.75.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-34256","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34256","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=34256"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34256\/revisions"}],"predecessor-version":[{"id":34261,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34256\/revisions\/34261"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=34256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=34256"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=34256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}